Following last year'sunprecedented political changes in Bangladesh, remittance inflows have significantly picked up. The country recorded its highest-ever remittance inflow in December of the 2024-25 fiscal year, reaching approximately $2.64 billion. The second-highest inflow took place in February, with nearly $2.53 billion in remittance in flow. And if the current trend continues, March is likely to set a new record, surpassing all previous time and quarter specific remittance inflows.
According to the latest data of Bangladesh Bank, expatriate Bangladeshis have remitted around $1.6561 billion in remittances during the first 15 days of March. At an exchange rate of Tk 122 per dollar, this amounts to over Tk 20,204 crore. The daily average inflow has now exceeded $110 million (Tk 1,347 crore). If this momentum is maintained, total remittances for March could exceed $3 billion, marking a historic milestone.
However, month-to-month increased remittance inflow is a much needed positive development for the country at a time when it is under significant pressure due to dwindling foreign exchange reserves and various external payment obligations. Moreover, we are now hopeful that this upward trend in inflows will continue in the coming months, eventually ease pressure on our forex reserves.
Unquestionably, this higher inflow would not have been possible without sheer hard work of our migrant workers, mostly toiling in the Middle East and Europe, often under unfavorable conditions and with low pay. That said - it is our moral obligation to ensure our migrant workers' rights are protected while they are handed justice for all unwarranted and unfair treatment faced abroad.
At the same time, the Interim Government led by Dr Yunus has shown marked commitment to honor our migrant workers by inaugurating a dedicated "Probashi Lounge" for our migrant workers at Hazrat Shahjalal International Airport in November last year, offering them space to rest and access subsidized food. Since then the inflow has only increased.
Needs be mentioned, contribution of our migrant workers should not only be judged in terms of monetary value. They played a major role during the tumultuous times of the July uprising last year. Bangladeshi diaspora including migrant workers spread out across the world came forward extending support, with hundreds of thousands of non-resident Bangladeshis (NRBs) expressing their solidarity to the uprising on the streets and social media.
Responding boldly to the ousted AL regime, our migrant workers decided to stop remitting their hard earned money, resulting in an unexpected huge drop in the country's remittance earnings in July-August last year.
Organizing demonstrations in foreign lands against oppression at home is no mean feat. Risking livelihood and deportation, at least 57 migrant workers in Abu Dhabi were sent behind bars. We honor such brave acts of patriotism.
In conclusion, we expect the government to aid and inspire our migrant workers to keep sending remittance at a steady rate with convenient policies and support.
